India's second largest IT services exporter Infosys began its annual strategy meet called STRAP with its employees at the Mysore campus on Wednesday.
India’s second largest IT services exporter Infosys began its annual strategy meet called STRAP with its employees at the Mysore campus on Wednesday. This three-day event brings together the entire senior management team to chart out the company plans forthcoming fiscal even as it comes under the backdrop of certain issues raised by Infosys founders recently.
Strategy action and planning (STRAP) serves as one platform for the company to deliberate the business strategy and implementation. The meet, which will have the presence of CEO Vishal Sikka, will look at the performance of the various verticals and geographies for FY17 and chart out the plans for the forthcoming fiscal.
Infosys has already laid out an ambitious target of achieving $20 billion revenue by 2020 and this is expected to be the focal point at STRAP. However, given the current market conditions where the industry is projected to grow in single digits, it remains to be seen what will be the strategy to be adopted by Infosys.
There is also an expectation that Infosys might go in for a share buyback programme and the company had recently announced that it would amend the Articles of Association to enable such an issue.
The amendment to the Articles of Association also include expanding the size of the board to 15 directors. Articles of Association is the set of rules adopted by a company at the time of being set up.
Besides the $20 billion target, STRAP meet is also expected to address the various issues raised by the promoters of Infosys led by N R Narayana Murthy. The meet is expected to reduce the negativity surrounding the recent events and engage with a host of stakeholders.
STRAP witnesses numerous sessions with flow of ideas as well as data from both internal and external sources such as customer satisfaction surveys (CSAT), employee satisfaction surveys (ESAT) and vendor satisfaction surveys (VSAT). It will also discuss the company’s progress on its environmental and social goals.